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Trump Has Dampened Prospects For The TikTok Deal
US President Donald Trump has dampened prospects for the deal that is supposed to save the Tiktok video app in the US.
Yazar: Tom Roberts
Yayınlanma: 17 Eylül 2020 21:58
Güncellenme: 3 Mayıs 2024 18:10
Trump Has Dampened Prospects For The TikTok Deal
US President Donald Trump has dampened prospects for the deal that is supposed to save the Tiktok video app in the US. According to previous announcements, the American software company Oracle is to take on the role of a "technology partner", while according to media reports, the Chinese Tiktok owner Bytedance is to keep the majority stake. Trump does not want to endorse such a solution. "Conceptually, I can tell you that I don't like it," he said at a press conference. However, he will not be informed about the details of the plan until Thursday. However, he did not advocate the idea that the Chinese company would remain in control. "I'm not ready to sign anything."
The Wall Street Journal reported afterwards that the White House was urging that American investors get a majority in Tiktok. Trump originally gave Bytedance the choice of either parting with Tiktok or accepting an end to the app in the USA.
Trump describes Tiktok as a security risk on the grounds that Chinese authorities could get data from Americans. Tiktok and Bytedance deny this. Microsoft spent weeks negotiating the purchase of the Tiktok business in the United States, Canada, New Zealand, and Australia.
However, the Chinese government torpedoed this solution with a new rule according to which software algorithms such as those from Tiktok can only be sold abroad with their approval. Then the new plan was worked out with the participation of Oracle. According to media reports, Oracle should take over the storage of data from US users - and also get access to Tiktok's software code. This should ensure that the platform does not contain any backdoors for Chinese authorities. In addition, according to the plan, Tiktok's global business will be bundled in a new company based in the United States, it said.
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